Crypto World Sees Massive Movements and Strategic Developments
This week, the crypto landscape has been buzzing with significant events. From dormant wallets waking up too strategic partnerships, here’s a summary of the top stories.
Satoshi-era Bitcoin wallets activate
Eight long-dormant wallets, each holding 10,000 Bitcoin (BTC), suddenly sprang to life. These wallets, inactive as 2011, transferred their funds to new SegWit addresses. The total value of these transactions was around $8.5 billion. A suspicious BCH transaction was also flagged before these movements.
brazilian hackers use crypto for money laundering
on-chain analyst ZachXBT revealed that brazilian hackers are using cryptocurrencies to launder stolen funds. They gained access to the Central Bank of Brazil’s service provider and stole $140 million. Around $30 to $40 million of this has been converted into Bitcoin, Ethereum, and USDT through Latin American exchanges.
FTX seeks legal approval for asset distribution
The FTX Recovery Trust is asking the court to approve new procedures for distributing creditor claims in restricted jurisdictions. Countries like China, Russia, and Ukraine are among the 49 identified as perhaps banned.
DeFi Development Corp. boosts Solana holdings
the Solana treasury firm increased its holdings by purchasing an additional 17,760 SOL tokens. This brings their total holdings to 640,585 SOL.
IMF rejects pakistan’s Bitcoin mining subsidies
The International Monetary Fund (IMF) has denied Pakistan’s request for subsidized electricity for Bitcoin mining. The IMF expressed concerns about potential market distortions during a Senate session.
SEC pauses Grayscale fund conversion
The Securities and Exchange Commission (SEC) has suspended the conversion of Grayscale Digital Large Cap Fund LLC.The decision came just a day after the fund was initially approved for trading.
Ripple partners with OpenPayd
Ripple has teamed up with OpenPayd to develop stablecoin and payments infrastructure. This partnership aligns with Ripple’s application for a national banking license at the OCC.
Deutsche Bank plans crypto custody service
Deutsche Bank is set to launch a cryptocurrency custody service next year. They are collaborating with bitpanda to build this offering.
Iran’s Nobitex resumes operations
Nobitex, Iran’s largest crypto platform, is gradually restarting services after a $90
